Catalent Pharma Solutions, Inc. entered into an asset purchase agreement to acquire INBRIJA Manufacturing Operations in Chelsea, Massachusetts from Acorda Therapeutics, Inc. (NasdaqGS:ACOR) for $80 million on January 12, 2021. At closing, Catalent paid the Company $80 million in cash, resulting in expected net proceeds of approximately $74 million after transaction fees and expenses and settlement of customary post-closing adjustments. The consideration is subject to certain adjustments and the assumption and is paid in cash. In connection with the transaction, Acorda and Catalent have entered into a long-term global supply agreement under which Catalent will manufacture and package INBRIJA for Acorda. The Asset Purchase Agreement includes customary termination provisions in favor of the Acorda, on the one hand, and Catalent, on the other hand, including if the closing of the transaction has not occurred on or before May 12, 2021. As part of the transaction, Catalent will absorb all Acorda employees who work at the Chelsea facility and certain Acorda employees at the Waltham, Massachusetts facility. Completion of the transaction is subject to customary closing conditions, including, among others, the receipt of certain third party consents and approvals. The transaction is expected to close in the first quarter of 2021. The Acorda intends to use the net proceeds of $70 million received from the transaction for general corporate purposes, which may include funding capital expenditures and the repayment of indebtedness. MTS Health Partners, L.P. is serving as exclusive financial advisor to Acorda Therapeutics on the transaction. Catalent Pharma Solutions, Inc. completed the acquisition of INBRIJA Manufacturing Operations in Chelsea, Massachusetts from Acorda Therapeutics, Inc. (NasdaqGS:ACOR) on February 10, 2021.